FPJ Cyber Secure: SoBo Woman Loses ₹2.93 Lakh In Investment Scam

FPJ Cyber Secure: SoBo Woman Loses ₹2.93 Lakh In Investment Scam

When the complainant woman wanted to withdraw her money, her account was blocked. She was asked for Rs 8.21 lakh to unblock the account.

Vishal SinghUpdated: Saturday, March 16, 2024, 10:47 PM IST
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A woman from South Mumbai became a victim of cyber fraud due to the greed of earning profits by investing in online share trading.  The accused made the woman invest a total of Rs 2.93 lakh and showed her a profit of Rs 4.11 lakh.  But when the complainant woman wanted to withdraw her money, her account was blocked. She was asked for Rs 8.21 lakh to unblock the account.

Details of case

As per the details provided by the DB Marg police, Vaishali Shah, a 45-year-old housewife, reported that her brother was connected in a WhatsApp group called A-35 Mark Bilson Elite Profits Exchange. Shah's brother informed her that numerous members of the group were making significant profits by using an app called SS-Equitrade for investments. He also shared a link to the SS-Equitrade app along with screenshots via WhatsApp, which Shah subsequently downloaded.

After Shah downloaded the app, the admin of the WhatsApp group named A-35 Mark Bilson Elite Profits Exchange named Meera told Shah how to register on SS-Equitrade. Shah's account was created on this app and Meera also gave her a certificate and asked her to recharge the account.

At the behest of Meera, Shah deposited a total of Rs 2.93 lakh in different bank accounts between 26 February and 15 March.  The total profit from the investment made by Shah was shown on the app as Rs 4.11 lakh.

Shares were purchased without her consent

Shah told in her complaint to the police that without her consent some shares were purchased from the money deposited in her account and about Rs 1.13 lakh was deducted from the account. After deducting the money, a balance of Rs 2.97 lakh was showing in Shah's account, which Shah tried to withdraw but her account was blocked.

FPJ Cyber Secure

FPJ Cyber Secure |

After this, when Shah subscribed to the IPO named Gopal Namkeen, shares worth about Rs 10 lakh were purchased from her account. When Shah asked the company that there was a balance of Rs 2.97 lakh in her account, then how the shares worth Rs 10 lakh were purchased, then Shah was told that she would have to deposit Rs 8.21 lakh in the account, only then her account would be unblocked.

When the company official told Vaishali Shah that after depositing Rs 8.21 lakh, her account would be unblocked and only then she would be able to withdraw the money, she felt that she had been cheated. Shah complained about this to D B Marg police, the police has registered an FIR on Shah's complaint and is investigating further.

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